China’s central bank has pushed the issue of the digital yuan. Foreign investors can also invest in this state-backed coin – via the Yuan Pay Group.
The provider is the only state-authorized distributor to sell the digital yuan in Europe. We introduce the company in our Yuan Pay Group test and show you step-by-step how you can buy China’s coin.
What is the Yuan Pay Group?
Yuan Pay Group is the only Chinese government approved and authorized distributor of the digital yuan. According to the company, only the Yuan Pay Group is allowed to buy and sell cryptocurrencies in China, including China’s Coin.
The Chinese government controls and regulates the crypto market and crypto trading in the country with an iron hand. Initial Coin Offerings (ICO) and the operation of crypto exchanges and the buying and selling of cryptocurrencies have been banned since 2018.
However, there seems to be a rethinking with the Yuan Pay Group. The Chinese central bank (People’s Bank of China) has been working on China’s coin since 2018. The digital yuan is intended to enable efficient payment processing and a reduction in national debt.
What is the Yuan Pay Group cryptocurrency China Coin?
China’s coin is said to reduce the Chinese national debt and also attract foreign investors for the celebrated coin. The Yuan Pay Group is authorized as a distributor to sell the China Coin on the European and American markets.
As a licensed sales partner, YPG enables interested investors to invest in China’s coin. This can be done by depositing fiat currency on the company’s website in less than 10 minutes.
Yuan Pay App Registration: Buy China’s Coin
The Yuan Pay Group orients itself with the user guidance of popular licensed brokers in Europe. The purchase of China’s coin first requires an account registration and deposit of funds, which can then be converted into the digital yuan.
Step 1: Registration
Yuan Pay Group Registration On the home page you will find the button “Register Account” at the bottom left. Click on it to open a 4-field registration form.
Now enter your first name, last name, email address and your telephone number. The telephone number is absolutely necessary so that you can be contacted in the event of any uncertainty or registration problems.
Then click on the “Open Account” button. Your details will be processed and you will be taken to the portal’s deposit menu.
Step 2: Deposit
In the next step, you will be asked to fund your trading account with the Yuan Pay Group. The payment methods credit card, bank transfer or PayPal are available for this.
Important: at first you might only buy the coins issued with a minimum amount of $250. Even if you want to invest more in total, we recommend starting with a small amount.
Your deposit will be processed and the money will be credited to your trading account immediately. No deposit fees are charged.
Step 3: Buy China’s coin
Now you can finally buy the longed-for China Coins. Follow the instructions on the trading platform and convert the desired amount into the digital yuan. We recommend that you test the transaction with a smaller amount again. You can always buy additional coins at a later date.
Does the China Coin have potential?
Investing in the digital yuan raises the question of the potential of the China Coin. Are the earnings opportunities really as high as some have announced? Can you hope for a steep price increase? What are the advantages?
Yuan Pay Group China Coin For this you have to clarify the application of the China Coin. China is a pioneer in the issue of a so-called Central Bank Digital Coin (CBDC), as is already being developed by the US Federal Reserve and the European Central Bank (ECB).
The People’s Bank of China is ahead here. The state-regulated coin is primarily intended to enable payment transactions in the densely populated country of the world to be processed even more efficiently and quickly.
The increasing national debt burden of around USD 289 billion is also to be combated through the inflow of capital from international investors, who can thus participate in the great potential of the world’s largest economy.
China has hardly suffered from the COVID crisis, the economy is practically unrestrained on the way to high economic growth.
In addition, China has now become a digital pioneer. Once the “Factory of the World”, China’s tech companies are among the world’s greatest innovators, and the tech metropolis of Shenzhen is in no way inferior to Silicon Valley.
China’s growing global influence – politically and economically – is causing many central banks to consider pegging their currency to the yuan instead of the USD.
Even if the yuan may not overtake the USD anytime soon, central banks around the world are showing ever more interest in acquiring large yuan reserves. The digital yuan will accelerate this even further.
Much speaks for the high potential of China Coin for its investors. Shouting promises should be viewed with skepticism, China’s coin definitely has great growth potential in the coming months and years.
Is it a Yuan Pay Group Scam?
Some investors may have doubts about the company’s information, many wonder whether the Yuan Pay Group is reputable or a fraud. We have looked at it and researched it in detail to get more clarity.
The provider’s website correctly shows the current legal situation of cryptocurrencies in China. The development of the China Coin (the CBDC) was presented in detail in renowned press companies and media.
Research into other Yuan Pay experiences of existing users was not very productive, which, however, is not surprising given the novelty of the offer. Overall, however, the reports of individual Yuan Pay Group tests were very positive and satisfactory.
However, we are somewhat critical of the unrealistically high promises that are made on the website. Several hundred percent profit within a week – the return will probably be a bit more modest.
Ultimately, the future price development of the digital yuan will depend on many factors, in particular of course the economic development of the country, the interests of institutional and private investors as well as the central banks of individual countries around the world. Exact price forecasts are therefore not very reliable.
All in all, the Yuan Pay Group should be reputable. We found no evidence that the Yuan Pay Group could commit fraud.
Yuan Pay Group offer
Yuan Pay app offer can be carried out briefly and quickly. The booming China Coin is currently available for purchase – by paying in fiat currency. According to our current state of knowledge, other cryptocurrencies cannot be traded at the Yuan Pay Group at the moment.
According to the operator, only the Yuan Pay Group is allowed to sell cryptocurrencies in China. Nevertheless, according to the website, only the China Coin, the digital yuan, is currently on offer.
It does not seem possible to trade Bitcoin, Ethereum, Ripple or other leading cryptocurrencies with the Yuan Pay Group. The company acts more as an exclusive sales partner and less like a crypto broker or even a crypto exchange.
For residents of China, however, the company is the only authorized distribution partner of the world’s most popular and largest cryptocurrencies. This means that the Yuan Pay Group has a significant and influential position in the emerging crypto industry in China.